LevelTen Energy Raises $65M to Accelerate 24/7 Carbon-Free Energy Generation
Key Ideas
- LevelTen Energy secured $65 million in Series D funding to advance the transition to 24/7 carbon-free energy generation by matching every kilowatt-hour consumed with zero-emissions sources.
- The funding round was led by B Capital and included participation from tech giants like Microsoft and Google, highlighting a significant step towards a more sustainable electricity system.
- LevelTen Energy is collaborating with various companies, including Google and Microsoft, to develop a platform for trading and managing hourly-matched energy certificates, facilitating the transition towards 24/7 clean energy.
- The company is also actively involved in promoting the adoption of hydrogen through initiatives like the Hydrogen Demand Initiative, aiming to catalyze demand for clean hydrogen and create a marketplace for buyers and sellers.
The push for 24/7 carbon-free energy generation is gaining momentum as LevelTen Energy, a leading marketplace for power purchase agreements, secures $65 million in Series D funding. This investment, led by B Capital with participation from Microsoft, Google, and other partners, aims to support the transition to hourly matching of electricity consumption with zero-emissions sources. By collaborating with the Granular Certificate Trading Alliance, LevelTen is working towards enabling corporations to achieve 24/7 clean energy consumption. The platform's upcoming auctions for hourly-matched clean energy, supported by industry giants like Google and Microsoft, are set to drive further adoption. Additionally, LevelTen is actively involved in the Hydrogen Demand Initiative to promote the sale of clean hydrogen produced in designated hubs, leveraging a $1 billion allocation from the Department of Energy. As the company scales, it seeks to onboard more utilities onto its platform to meet the growing demand for renewable energy. With a focus on accelerating the adoption of green hydrogen, LevelTen remains committed to driving the transition to a sustainable and decarbonized electricity system.
Topics
Utilities
Renewable Energy
Investment
Clean Technology
Power Purchase Agreements
Marketplace
Climate Commitment
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